Evolution of the concept of new projectment economy

Abstract

This paper aims to undertake a comprehensive bibliographic review of the genesis and evolution of the new projectment economy, a concept based on the theoretical fra- mework provided by Ignácio Rangel, an author whose work emphasizes the significan- ce of state planning within the economic sphere. The main research’s objective is to analyze the development of the novel theoretical approach since 2018, particularly in which concerns to China’s economic landscape after the reforms implemented in 1978. The adopted methodology involves an extensive bibliographic review, encompassing an analysis of articles authored by Jabbour and his collaborators, thereby highlighting the integration of elements derived from financial capitalism, Keynesian economics, and Soviet-style planning. The findings suggest that the new projectment economy emerges as a critical response to the inadequacies of traditional economic theories, of- fering potential solutions to contemporary crises, including the financial crisis of 2008 and the covid-19 pandemic. The analysis shed light on the fact that China’s “socialist market” model exemplifies the characteristics of the new projectment economy, faci- litating a more effective synthesis of planning and market mechanisms. In conclusion, we emphasize the fact that the new approach not only revitalizes Rangel’s theoretical contributions but also furnishes a robust theoretical framework capable of addres- sing current economic challenges, thereby fostering a more inclusive and sustainable development paradigm. The ongoing exploration of this field is deemed essential for enhancing the understanding of the intricate interactions between economic theory and social practice.